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Romney. Photograph: Evan Vucci/AP...2. "You can make a (pretty good) argument to say that rising inequality, in the form of falling real wages for the 99 per cent, left consumers with no power to consume unless they borrowed to do so - another big contributory factor in the financial crisis."

According to James Heckman, the Nobel-winning economist, early-childhood 'investment' boosts future health, productivity and equality, while also reducing crime.

Professor Grantham-McGregor, of University College London, says:"I found in Jamaica that the moment parents realise stimulating infants matters, they become quite keen to do it." Pakistan’s 'lady health visitors' are achieving great results, she says.Peru has a similar programme.

A modest investment in infants means that governments can eventually spend less on prisons, mental hospitals, and welfare handouts.